Infosys to say bye to its chief; Narayana Murthy to retire

Bangalore, Aug 19: Narayana Murthy - the founder and mentor of IT giant Infosys, will officially retire on Saturday, Aug 20. 65-year-old Murthy will retire as the chairman of the company after handing over the charge to the new chief - KV Kamath.

Murthy's retirement will mark the end of an era of Infosys and will resume a different reign with Kamath. However, as Murthy had claimed earlier, he (Murthy) will continue to guide the company which was found in 1981.

Murthy had said, "I would be called Chairman Emeritus. I will have a room which I can use if I want, I can go whenever I want but as propriety demands, I will have no say in any matter, I will not be allowed to attend any board meetings or any meetings. I can meet anybody personally."

After starting the company with initial capital of $250, mostly borrowed from wife Sudha Murthy, Narayana Murthy served the company as the CEO for 21 years. Later he (NR Murthy) was succeeded by another co-founder of Infosys - Nandan Nilekani.

Sources reported that the IT organisation has arranged a grand farewell for Murthy, though media will be barred to enter the premises of the company to follow the function.